SAVANNAH 50

Posted: Tuesday, February 28, 2006

Hilb Rogal & Hobbs to acquire Zutz Associates, Inc.

WFG Capital Advisors has announced the signing of a definitive agreement by Hilb Rogal & Hobbs Company (NYSE: HRH), which has an office in Savannah, under which HRH will buy the stock of Zutz Associates, Inc., Delaware's largest independently-owned insurance agency. Terms of the transaction, which is expected to be completed by today, were not disclosed.

Reliance Steel to acquire Flat Rock Metal Processing

Reliance Steel & Aluminum Co. (NYSE: RS), parent company of Chatham Steel Corp. in Savannah, announced Tuesday that its subsidiary, Precision Strip, Inc., has signed an agreement to acquire certain assets and business of Flat Rock Metal Processing LLC, based in Flat Rock, Michigan. Terms were not disclosed. The transaction is expected to be completed within 60 days, subject to the completion of due diligence.

UPS to rebrand Overnite

UPS Inc. (NYSE: UPS), the world's largest shipping carrier, said Tuesday that trucking company Overnite Corp., which it purchased for $1.25 billion last year, will be renamed UPS Freight in May.

The Atlanta-based company said the name change will include new uniforms and newly branded trucks. The rebranding includes a move to the UPS logo and new colors that blend a gray similar to the Overnite gray with UPS brown.

A new Web site for UPS Freight also will be launched.

The facilities and fleet, which includes 22,000 trailers, will be rebranded to UPS Freight over several years. UPS Freight will continue to operate independently of the UPS package delivery network.